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20100101
20100131
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CNBC 16
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English 16
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CNBC
Jan 27, 2010 4:00pm EST
dollars cash, when you open an account. >>> i'm john harwood on capitol hill in washington. i've just left an on-the-record briefing with house speaker nancy pelosi a much more optimistic tone to getting to pass the health care bill with certain changes that would ab agreed to. that is a positive sign for the vote count on prospect for president obama's health kay plan. no guarantee that the senate would go along with this strategy but she said this is all doable after we passasm these changes in the affordability other the cadillac tax and the special deal for nebraska, we can get this done in the house of representatives. good sign for president obama and, simon, i'll send it off to you on the floor. >> thank you very much. closing out a market that has rallied today. tonight's speech by president obama, absolutely key for banks and for health care stocks. as we stand at the moment, having rallied through so much of the uzir information today. now down 2% potentially for the month overall. [ closing bell ringing ] >>> you're watching a special edition of the "closing bell" from the world
CNBC
Jan 22, 2010 4:00pm EST
and a fear about what is going on in washington. that is adding to investors saying, you know what i will just take my money off the table, particularly when it comes to those financials as you saw bob pisani discussing. >> yeah, and i would agree with you, david. yeah, look at this triple whami this week. china, bernanke and the banks. and remember, david, as you well know, people stopped shorting in the middle of last year, because they got killed trying to short because every time they tried, they got snuffed. now they can smell with this kind of rise in uncertainty earnings you could see that in the vix today, that it may be worthwhile, david, for them to throw in a few more bucks to shorting the market. a very rational thing for traders to think right now. >> david, bob, tyler. we've got steve liesman ready now. he's been at the center of the bernanke story weeks now. the latest details on bernanke's future, you've been working the phones there, as far as senators and what they're going to do regarding bernanke. what do you know, steve? >> reporter: maria, me and a very capable
CNBC
Jan 7, 2010 4:00pm EST
you like to see coming out of washington that's different than what we currently see? i mean, where are the main problems, in terms, you mentioned immigration, in terms of trade. tell me what would be important to really change that. >> pass the free trade bills, columbia, panama, korea. get ready of the -- provision. allow the best and the brightest to come here. they come to our universities. let them stay if they get a degree, especially an advanced one. relook at this health care bill. it kills innovation. it's an innovation killer. we are the most innovative health care provider? the world. >> why is the innovation killer the health care bill, gary? >> it hists everything from specialist to generalists. discourages. does everything wrong, frankly. we don't want to get rid of the best doctors and the best health care here. >> you make really important points here. >> in terms of other things that we could do the huge deficit -- huge tax increases. tax increases hurt invasion. >> that was really the worry. what i was talking about. take me through where the innovation and the exc
CNBC
Jan 4, 2010 4:00pm EST
to the washington, d.c. area starting next year. it is searching for an appropriate location now maryland or in the virginia area around washington, d.c. northrup gruman got a new ceo on new years. he took over for ron sugar. and now the company says it will be moving its corporate headquarters to washington, d.c., where it spends much of its time already working with the defense department. a 30,000 northrup grumman employees work in california. most of them of course will stay here but bragging rights of vague corporate headquarters of a major company in los angeles leaving, one less here, mandy, one more for washington, d.c. back to you. >> okay, thanks very much for that breaking news there. jane wells. >>> it was a strong start of the year for stocks but can the upward momentum continue? joining us now, noah blackstein portfolio manager at dynamic funds. and managing partner at skybridge capital. gentlemen, thanks very much for your time. noah, what do you think? >> i think that it can continue. a lot is based on the earnings coming through, those earnings are based in the recovery i
CNBC
Jan 13, 2010 4:00pm EST
in washington. wrapping up interviews there, coming up. >>> a look at the day on wall street by moving into the financials as the day winds on. it had been close to 80 points. finishing the day at 10,681. s&p 500 picked up 9.5. and the nasdaq composite was strong. technology and leadership on the upside. up 25 points up on nasdaq. and now above 2,300 at 2,307. top story, some of wall street's biggest names on the hot seat on capitol hill in front of lawmakers look for answers to the recent financial crisis. cnbc's david faber has been manning the ship in washington. he has all of the highlights and the takeaways from today's key hearings. david, over to you. >> reporter: thanks, maria. today's first panel hearing in front of this inquiry commission, which will continue its work for the balance of 2010, did include some fireworks and some pointed questions from chairman, phil angelides. the first q&a was devoted solely to questions to blankfein. i asked angelides later. why the focus on goldman sachs and why the focus on some key transactions involving synthetic cdos? >> in 2004, the fb
CNBC
Jan 8, 2010 4:00pm EST
to have a very undisciplined approach coming out of washington with regard to fiscal policy. with no road map back to sustainable fiscal balances over the intermediate term causing fears in the markets like you see somewhat today in terms of gold, in terms of the dollar, in terms of long treasuries. secondly, you could have a geopolitical event that would restrict world oil supplies with the issues going on in iran today. i would put the probability of both of those events as being relatively low and wouldn't expect those to happen but those would be the two primary risks that i wouldy. >> all right, gentlemen, great conversation. appreciate it. see you soon. thanks very much. thank you so much. take a look at some of the other business headlines that we're covering this afternoon and kick it off with white house press secretary robert gibbs telling reporters today that president obama still has confidence in treasury secretary timothy geithner. this is as house oversight committee towns says whether the fed improperly influenced aig to hold details from the public about houtfederal bailo
CNBC
Jan 15, 2010 4:00pm EST
will pay record levels of compensation this year and it is something that many in washington, as you know, are not happy about. mary thompson has more on that story for us. hi, mary. >> reporter: you know, sue, i think had should be one of the strongest arguments for our system to wind down big financial institution because if you had that system no need for taxpayer support and we'd be hearing fewer complaints about what wall street is dishing out this year and they're dishing out a lot. in fact, manyรง in washington fd distasteful. >> i think the responsibility of wall street's, towards respond, particularly to the bonus, they know how annoying that is to the american people. they didn't care. >> reporter: "the wall street journal" analysis of revenue forecast for 38 top financial firms estimates total pay will increase in 2009. wall street's higher payouts link to higher profits. profits, critics say, largely made possible because of the taxpayer bailout. but at jpmorgan where net income more than doubled last year it repaid t.a.r.p. money. the bank maintains it didn't need. and is pa
CNBC
Jan 25, 2010 4:00pm EST
mathisen and our chief washington correspondent john harwood. thanks to all of you for joining us. andy, start with you. what do you think? is that criticism warranted? because that's been the biggest hit on bernanke so far. is that he contributed to this bubble in the first place. ane even though he may have done, you know, a great job by some standards in reining in the problem maybe he lacks the discipline forward to take off the equity. >> that's certainly the argument of my friend larry kudlow. we had interest rates extremely low from 2003 to 2004. i think that the thing that's kind of disturbing about what happened back then was not necessarily that period but it was the extended period after that where they raised rates very cautiously, very slowly and actually in 2005 and 2007 is when all of the bad loans were made. o low interest rates, exceptionally low interest rates were part of the contributing problem. but boy, there's really a lot of blame to spread on this one, from the regulators to fannie and freddy -- >> sure. >> so you could take your pick. but bernanke is the man on
CNBC
Jan 14, 2010 4:00pm EST
. cnbc chief washington correspondent john harwood just spoke exclusively with tim geithner about the president's plan to tax big banks in order to recoup financial bailout expenses. called the financial crisis responsibility tax. is that right, john? >> reporter: exactly, maria, and we talked about that and many other issues bow this tax, which has galvanized the attention of wall street, timothy geithner told me it was neither punishment nor politics. take a listen. [ technical difficulties ] sorry. maria, i guess we didn't have that tape. but i started out by -- i started out by -- >> we thought it was economically sensible, fair, good policy, legally necessary to propose now how to make sure that the cost of those are not bourne by people who are innocent victims of all of the wreckage. >> reporter: as you know you've been asked to testify before congress about some memos that came out, congressman issa released regarding aig and advice the new york fed gave to not disclose the full repayments to some counterparties of aig. now, i know that you've said that -- or your spokesma
CNBC
Jan 26, 2010 4:00pm EST
. this is the congressional budget office predicts the deficit will hit $1.35 trillion. hampton pearce is in washington with the details. hi, hampton. >> reporter: this is the time of day where you need a good stiff drink to look at these deficit numbers. congressional budget office predicting a $1.35 trillion deficit this year, 9.2% of gdp. slight improvement from last august predicting a $1.4 trillion, 9.9% of gdp. a jobs bill and more war spending could increase this year's deficit. the economic outlook foresees a sluggish recovery, unemployment 10.1%, 2% gdp growth in 2011, the unemployment will hover around 9.5%. the deficit could drop to $980 billion if the bush tax cuts expire. there is no single silver bullet solution for fixing the deficit. >> one can narrow or close the deficit gap with a variety of changes in the health programs and social security, in discretionary spending or revenue side in various ways. i think many analysts believe any ultimate solution would involve some combination of those pieces because the gap is simply so large. >> ahead of tomorrow's state of the union address an
CNBC
Jan 29, 2010 4:00pm EST
in washington and the impact everything from ben bernanke's confirmation to the state of the union. >>> from the state of the union to geithner's grilling on capitol hill, ben bernanke winning enough votes to keep his job, wow, what a week it has been when it comes to the ups and downs on the political front. we're going to take a look at what will have the biggest impact going forward. director and head of policy research at strategic research partners. dan, good to see you. >> thanks for having me. >> it was a big week with a lot of events. out of those three that we talked about, what is the most important to our viewers in terms of its effect on the economy and on the markets? >> well, that's right. this was like the super bowl of washington. we get to do it again next week, too. but i think that the most important is the toned down rhetoric of president obama in his state of union speech. we know after the massachusetts election, he turned much more to the left in terms of populism. the speech last week in ohio was very negative towards financial service industry and we're now at a poin
CNBC
Jan 20, 2010 4:00pm EST
one year since president obama took office. cnbc chief washington correspondent john harwood takes a year back at what the year was the president's agenda. >> reporter: who would have expected a year ago that the president's world would had been in iraq quite the way it was by scott fwloun massachusetts last night. the president gave an interview on abc today, and he said the same anger that carried him into office carried that republican into the very blue state of massachusetts, but he's not going to be deterred on health care. as press secretary robert gibbs said the central priority when the president took office, is still his main priority. he's not giving up now. >> he didn't do it just because it was a hobby. he did it because in traveling around the country during the election, he heard from families. he heard from small businesses. he heard from large businesses about how the current system was simply unsustainable. it was a priority then, it's a priority now. >> reporter: but, maria, what we've seen is that the president has lost political altitude in that year, as the ec
CNBC
Jan 21, 2010 4:00pm EST
. thanks very much. peter sorrentino, let me get your take first of what we are hearing out of washington, in terms of the proposals on the major banks. i know that you're an investor in the major bank. what do you want to do now? >> at this juncture i want to find out what this means in terms of the actual implementation, because it is a serious impediment. you know goldman has been goldman because they were a very successful trading house. a lot of what jpmorgan picked up with bear stearns was a trading arm. so if in fact we're now going to discourage that and force that to be broken out, this really makes it very difficult to do a forward valuation on those companies. because who gets what pieces and what's the going rate and what's their distribution network going for. >> so the question, tyler, becomes are the same reasons to invest in these stocks still there if in fact this bill passes? because we're talking about some the most profitable parts of the financial services businesses, the propriety trading among other, capital markets businesses. >> reporter: absolutely and so if you
CNBC
Jan 5, 2010 4:00pm EST
of hamilton place strategies, former white houw press secretary and john howard cnbc's chief washington correspondent. thanks for your time. what exactly, tony, would you expect the president to announce in terms of new security measures to protect us? >> i think he is going to reiterate some of the initiatives we have heard through the press today with respect to new names being added to the watch list, what is done with those names. i think he will talk a bit about the review he just received from the heads of all the agencies at this meeting he convened today. and some of the new security measures at foreign airports in dealing with passengers on flights coming to the united states. we've seen some of that out of the news today already. i think the main point of the president's statement today is to out talking about this issue and getting the message straight on this so that they project that action is taking place and the president takes the issue seriously. >> that is a prescient point. the president and his team have been attacked in recent days on perhaps not being hard enough o
CNBC
Jan 19, 2010 4:00pm EST
'll follow the story all day long. >> i'm in washington. housing starts jumped in november, but will they be able to survive the winter freeze? find out tomorrow morning at 8:30. >> also tomorrow a slew of big banks set to report quarterly results. mary thompson is in earnings central with a preview. everyone will be watching closely. we got citi out of the way. >> the three banks being bank of america, morgan stanley and wells fargo, all before the opening bell tomorrow. for bank of america and wells fargo the focus and the problem continues to be the consumer. here's analyst dick bove. >> the problem the banks are finding at the moment is that their consumer business is just not turning around. >> what do we expect? bank of america's fourth quarter loss is forecast to widen to 52 cents a share from 48 cents a share due to charges from the repayment of t.a.r.p. its investment bank expected to of benefit from strong equity underwriting fees. on the credit front bern stein sees nonperforming assets rising at a slower pace. like bank of america, wells fargo reported a loss fo
CNBC
Jan 11, 2010 4:00pm EST
in washington, upset. but can wall street walk a tightrope and satisfy employees and laims at the same time when it comes to bonuses? >>> where taxpayer money is involved, as it has been, we have a legitimate right to talk about compensation but in the absence of that, i just get very uneasy about the idea that somehow we're going to tell some private entity what their compensation should be. owners of these public companies ought to have those right. >> that was democratic senator chris dodd on "squawk box" and morning. wall street has responded this bonus season by handing out more stock than cash. but critics say the payouts are still too much even as some bank employees complain about the lack of cash. is this is right compromise or a loose situation for the banking sector? joining me now on bonus watch is jonathan koppel, he's associate professor at the yale school of management. and john martini, executive compensation expert and partner at reid smith. gentlemen, good to have you on the program. >> thanks for having me. >> so, were you surprised, either of you, about the new compensation s
Search Results 0 to 15 of about 16